Office & Workshop insurance, also known as Business Insurance, or Business Package Insurance, is relevant for builders, tradies and subcontractors who have office facilities and/or workshops. It covers your office premises against events such as fire, theft, storm, malicious damage, as well as Public Liability.
Optional cover is available for business interruption, to help cover your lost income while your office is being repaired due to an insured event.
Business Insurance covers1 your office and/or workshop against a number of events. It consists of several different sections of cover to select from depending on your needs.
Your main work might occur on the construction site, but your office is still an equally important part of your business to help secure new clients, plan projects and carry out all your business administration. If your office was damaged by a storm or fire or theft, keeping your business running could become a challenge. Taking out cover for your office with Business Package Insurance can therefore help ensure you’re able to get back on your feet quickly if your office is damaged as a result of certain events.
Even before you start work onsite, you may meet with potential clients at your office or out in public. Any interaction with clients in person carries a liability exposure of personal injury or property damage, so Public Liability Insurance is also important to consider if you are meeting clients in person, whether that is at your office or at their homes.
Business Insurance will cover1 the cost to repair your office premises or contents if they are damaged as a result of an insured event. Under this policy, you can take out cover for:
In addition to your office premises, if you have a workshop, it is also an important part of your keeping your business running. Business Package insurance also provides the option to cover your workshop against insured incidents. This includes the option to cover tools you might keep at your workshop, as well as stock you keep on hand such as timber, tiles, door furniture and other materials.
This is an important cover available under this policy, and helps cover lost revenue you incur as a result of an insured event. For example, if your premises are damaged by fire, and as a result of the damage, you’re unable to operate while your office is being repaired, then this feature can help cover the revenue you lose during this period.
Public Liability Insurance is also available under Business Package Insurance. This is designed to cover you in the event a client or any member of the public holds you responsible for a physical injury they suffer, or if their property is damaged due to your negligence. For example, if a potential client visited your premises and slipped over a brochure laying on the floor, and sustained a serious injury, they may take legal action against you. PL in this instance would step in and cover the legal fees associated with defending yourself as well as compensation you may be required to pay to the third party.
Once you’ve decided which of your assets you need to take out cover for, you will then need to determine which events you’d like to be covered for under the policy. The coverage sections to choose from are:
1Subject to the full policy terms, conditions, limits and exclusions
2Hunter Premium Funding is a third party independent of Aon, however Aon will receive a commission if you pay for your policy through a premium funding agreement with them.